41,579 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Triglav Skladi D.O.O.

Triglav Skladi D.O.O. bought a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 41,579 shares of the industrial products company’s stock, valued at approximately $13,800,000. Eaton makes up approximately 1.1% of Triglav Skladi D.O.O.’s holdings, making the stock its 22nd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lighthouse Wealth Management Inc. purchased a new position in shares of Eaton in the 4th quarter worth $297,000. Bearing Point Capital LLC acquired a new stake in Eaton in the 4th quarter valued at $2,713,000. Webster Bank N. A. grew its stake in shares of Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $329.40 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $287.40 and its two-hundred day moving average price is $319.47. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The stock has a market capitalization of $128.89 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. raised their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday. BNP Paribas Exane started coverage on Eaton in a research note on Thursday. They set an “outperform” rating and a $380.00 target price for the company. Morgan Stanley lowered their target price on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research note on Sunday. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.56.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.